The Reserve Bank of India (RBI) will conduct an auction of 15-year government paper for Rs 5,000 crore on January 14, 2002. This is for the first time that non-competitive bidders will take part in the auction. The auction will complete Rs 1,21,000 crore of the gross government borrowing as against the budgeted target of Rs 1,18,852 crore.
The minimum amount for a single non-competitive bid is Rs 10,000 and the maximum is Rs 1 crore. Money market dealers are expecting the medium-sized investors
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